Attached files
Exhibit (99)
Wells Fargo & Company
Supplementary Consolidating Financial Information
(Unaudited)
As of September 30, 2010 and For the Nine Months Ended September 30, 2010
The “Bank” as noted herein refers to Wells Fargo Bank, National Association
WELLS FARGO & COMPANY
Supplementary Consolidating Income Statement Information
(Unaudited)
| Nine months ended September 30, 2010 | ||||||||||||
| (in millions) | The Bank | Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Interest income |
||||||||||||
| Trading assets |
$ | 205 | 598 | 803 | ||||||||
| Securities available for sale |
6,528 | 764 | 7,292 | |||||||||
| Mortgages held for sale |
712 | 529 | 1,241 | |||||||||
| Loans held for sale |
85 | 1 | 86 | |||||||||
| Loans |
25,519 | 4,575 | 30,094 | |||||||||
| Other interest income |
1,126 | (815 | ) | 311 | ||||||||
| Total interest income |
34,175 | 5,652 | 39,827 | |||||||||
| Interest expense |
||||||||||||
| Deposits |
2,198 | (28 | ) | 2,170 | ||||||||
| Short-term borrowings |
57 | 9 | 66 | |||||||||
| Long-term debt |
1,350 | 2,385 | 3,735 | |||||||||
| Other interest expense |
19 | 143 | 162 | |||||||||
| Total interest expense |
3,624 | 2,509 | 6,133 | |||||||||
| Net interest income |
30,551 | 3,143 | 33,694 | |||||||||
| Provision for credit losses |
11,270 | 1,494 | 12,764 | |||||||||
| Net interest income after provision for credit losses |
19,281 | 1,649 | 20,930 | |||||||||
| Noninterest income |
||||||||||||
| Service charges on deposit accounts |
3,888 | (7 | ) | 3,881 | ||||||||
| Trust and investment fees |
1,571 | 6,405 | 7,976 | |||||||||
| Card fees |
2,625 | 86 | 2,711 | |||||||||
| Other fees |
2,575 | 352 | 2,927 | |||||||||
| Mortgage banking |
6,942 | 38 | 6,980 | |||||||||
| Insurance |
72 | 1,490 | 1,562 | |||||||||
| Net gains (losses) from trading activities |
(444 | ) | 1,560 | 1,116 | ||||||||
| Net gains (losses) on debt securities available for sale |
(80 | ) | 24 | (56 | ) | |||||||
| Net gains (losses) from equity investments |
(1 | ) | 463 | 462 | ||||||||
| Operating leases |
734 | 2 | 736 | |||||||||
| Other |
3,299 | (1,572 | ) | 1,727 | ||||||||
| Total noninterest income |
21,181 | 8,841 | 30,022 | |||||||||
| Noninterest expense |
||||||||||||
| Salaries |
9,083 | 1,273 | 10,356 | |||||||||
| Commission and incentive compensation |
2,927 | 3,570 | 6,497 | |||||||||
| Employee benefits |
3,243 | 216 | 3,459 | |||||||||
| Equipment |
1,712 | 111 | 1,823 | |||||||||
| Net occupancy |
1,913 | 367 | 2,280 | |||||||||
| Core deposit and other intangibles |
1,571 | 79 | 1,650 | |||||||||
| FDIC and other deposit assessments |
844 | 52 | 896 | |||||||||
| Other |
7,466 | 2,689 | 10,155 | |||||||||
| Total noninterest expense |
28,759 | 8,357 | 37,116 | |||||||||
| Income before income tax expense |
11,703 | 2,133 | 13,836 | |||||||||
| Income tax expense |
3,989 | 677 | 4,666 | |||||||||
| Net income before noncontrolling interests |
7,714 | 1,456 | 9,170 | |||||||||
| Less: Net income from noncontrolling interests |
199 | 23 | 222 | |||||||||
| Net income |
$ | 7,515 | 1,433 | 8,948 | ||||||||
| Net income applicable to common stock |
$ | 7,515 | 885 | 8,400 | ||||||||
WELLS FARGO & COMPANY
Supplementary Consolidating Balance Sheet Information
(Unaudited)
| September 30, 2010 | ||||||||||||
| (in millions) | The Bank | Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Assets |
||||||||||||
| Cash and due from banks |
$ | 16,933 | (932 | ) | 16,001 | |||||||
| Federal funds sold, securities purchased under resale agreements and other short-term investments |
57,157 | (608 | ) | 56,549 | ||||||||
| Trading assets |
32,145 | 17,126 | 49,271 | |||||||||
| Securities available for sale |
154,552 | 22,323 | 176,875 | |||||||||
| Mortgages held for sale |
30,604 | 15,397 | 46,001 | |||||||||
| Loans held for sale |
1,145 | 43 | 1,188 | |||||||||
| Loans |
686,595 | 67,069 | 753,664 | |||||||||
| Allowance for loan losses |
(20,431 | ) | (3,508 | ) | (23,939 | ) | ||||||
| Net loans |
666,164 | 63,561 | 729,725 | |||||||||
| Mortgage servicing rights: |
||||||||||||
| Measured at fair value (residential MSRs) |
12,725 | (239 | ) | 12,486 | ||||||||
| Amortized |
1,014 | (1 | ) | 1,013 | ||||||||
| Premises and equipment, net |
8,147 | 1,489 | 9,636 | |||||||||
| Goodwill |
21,005 | 3,826 | 24,831 | |||||||||
| Other assets |
68,898 | 28,310 | 97,208 | |||||||||
| Total assets |
$ | 1,070,489 | 150,295 | 1,220,784 | ||||||||
| Liabilities |
||||||||||||
| Noninterest-bearing deposits |
$ | 160,571 | 23,880 | 184,451 | ||||||||
| Interest-bearing deposits |
650,456 | (20,395 | ) | 630,061 | ||||||||
| Total deposits |
811,027 | 3,485 | 814,512 | |||||||||
| Short-term borrowings |
32,784 | 17,931 | 50,715 | |||||||||
| Accrued expenses and other liabilities |
53,206 | 14,043 | 67,249 | |||||||||
| Long-term debt |
49,502 | 113,641 | 163,143 | |||||||||
| Total liabilities |
946,519 | 149,100 | 1,095,619 | |||||||||
| Equity |
||||||||||||
| Wells Fargo stockholders’ equity: |
||||||||||||
| Preferred stock |
- | 8,840 | 8,840 | |||||||||
| Common stock |
519 | 8,237 | 8,756 | |||||||||
| Additional paid-in capital |
98,774 | (45,875 | ) | 52,899 | ||||||||
| Retained earnings |
17,543 | 31,410 | 48,953 | |||||||||
| Cumulative other comprehensive income (loss) |
5,827 | (325 | ) | 5,502 | ||||||||
| Treasury stock |
- | (466 | ) | (466 | ) | |||||||
| Unearned ESOP shares |
- | (826 | ) | (826 | ) | |||||||
| Total stockholders’ equity |
122,663 | 995 | 123,658 | |||||||||
| Noncontrolling interests |
1,307 | 200 | 1,507 | |||||||||
| Total equity |
123,970 | 1,195 | 125,165 | |||||||||
| Total liabilities and equity |
$ | 1,070,489 | 150,295 | 1,220,784 | ||||||||
WELLS FARGO & COMPANY
Supplementary Consolidating Statement of Changes in Stockholders’ Equity Information
(Unaudited)
| Nine months ended September 30, 2010 | ||||||||||||
| (in millions) | The Bank |
Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Preferred stock |
||||||||||||
| Balance, December 31, 2009 |
$ | - | 8,485 | 8,485 | ||||||||
| Preferred stock issued to ESOP |
- | 1,000 | 1,000 | |||||||||
| Preferred stock converted to common shares |
- | (645 | ) | (645 | ) | |||||||
| Balance, September 30, 2010 |
- | 8,840 | 8,840 | |||||||||
| Common stock |
||||||||||||
| Balance, December 31, 2009 |
520 | 8,223 | 8,743 | |||||||||
| Capital stock |
(1 | ) | 14 | 13 | ||||||||
| Balance, September 30, 2010 |
519 | 8,237 | 8,756 | |||||||||
| Additional paid-in capital |
||||||||||||
| Balance, December 31, 2009 |
38,209 | 14,669 | 52,878 | |||||||||
| Business combinations |
60,776 | (60,776 | ) | - | ||||||||
| Capital infusion |
76 | (76 | ) | - | ||||||||
| Capital stock |
(287 | ) | 287 | - | ||||||||
| Noncontrolling interests |
- | (3 | ) | (3 | ) | |||||||
| Common stock issued |
- | 72 | 72 | |||||||||
| Preferred stock issued to ESOP |
- | 80 | 80 | |||||||||
| Preferred stock released to ESOP |
- | (51 | ) | (51 | ) | |||||||
| Preferred stock converted to common shares |
- | 69 | 69 | |||||||||
| Common stock warrants purchased |
- | (544 | ) | (544 | ) | |||||||
| Common stock dividends |
- | 2 | 2 | |||||||||
| Tax benefit upon exercise of stock options |
- | 79 | 79 | |||||||||
| Stock option compensation expense |
- | 93 | 93 | |||||||||
| Net change in deferred compensation and related plans |
- | 224 | 224 | |||||||||
| Balance, September 30, 2010 |
98,774 | (45,875 | ) | 52,899 | ||||||||
| Retained earnings |
||||||||||||
| Balance, December 31, 2009 |
17,234 | 24,329 | 41,563 | |||||||||
| Cumulative effect from changes in accounting |
168 | (13 | ) | 155 | ||||||||
| Net income |
7,515 | 1,433 | 8,948 | |||||||||
| Business combinations |
1,926 | (1,926 | ) | - | ||||||||
| Common stock issued |
- | (375 | ) | (375 | ) | |||||||
| Common stock dividends |
(9,300 | ) | 8,515 | (785 | ) | |||||||
| Preferred stock dividends |
- | (553 | ) | (553 | ) | |||||||
| Balance, September 30, 2010 |
17,543 | 31,410 | 48,953 | |||||||||
| Cumulative other comprehensive income |
||||||||||||
| Balance, December 31, 2009 |
452 | 2,557 | 3,009 | |||||||||
| Other comprehensive income |
5,375 | (5,375 | ) | - | ||||||||
| Unrealized losses related to factors other than credit |
- | 16 | 16 | |||||||||
| All other net unrealized gains, net of reclassification of net gains included in net income |
- | 2,202 | 2,202 | |||||||||
| Net unrealized losses on derivatives and hedging activities |
- | 227 | 227 | |||||||||
| Unamortized gains under defined benefit plans, net of amortization |
- | 48 | 48 | |||||||||
| Balance, September 30, 2010 |
5,827 | (325 | ) | 5,502 | ||||||||
| Treasury stock |
||||||||||||
| Balance, December 31, 2009 |
- | (2,450 | ) | (2,450 | ) | |||||||
| Common stock issued |
- | 1,349 | 1,349 | |||||||||
| Common stock repurchased . |
- | (71 | ) | (71 | ) | |||||||
| Preferred stock converted to common shares |
- | 567 | 567 | |||||||||
| Net change in deferred compensation and related plans |
- | 139 | 139 | |||||||||
| Balance, September 30, 2010 |
- | (466 | ) | (466 | ) | |||||||
| Unearned ESOP shares |
||||||||||||
| Balance, December 31, 2009 |
- | (442 | ) | (442 | ) | |||||||
| Preferred stock issued to ESOP |
- | (1,080 | ) | (1,080 | ) | |||||||
| Preferred stock released to ESOP |
- | 696 | 696 | |||||||||
| Balance, September 30, 2010 |
- | (826 | ) | (826 | ) | |||||||
| Total Wells Fargo stockholders’ equity |
||||||||||||
| Balance, December 31, 2009 |
56,415 | 55,371 | 111,786 | |||||||||
| Balance, September 30, 2010 |
122,663 | 995 | 123,658 | |||||||||
| Noncontrolling interests |
||||||||||||
| Balance, December 31, 2009 |
178 | 2,395 | 2,573 | |||||||||
| Business combinations |
1,425 | (1,425 | ) | - | ||||||||
| Net income |
199 | 23 | 222 | |||||||||
| Translation adjustments |
- | 12 | 12 | |||||||||
| All other net unrealized gains, net of reclassification of net gains included in net income |
- | 16 | 16 | |||||||||
| Noncontrolling interests |
(495 | ) | (821 | ) | (1,316 | ) | ||||||
| Balance, September 30, 2010 |
1,307 | 200 | 1,507 | |||||||||
| Total stockholders’ equity, September 30, 2010 |
$ | 123,970 | 1,195 | 125,165 | ||||||||